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year's to be signed into law. today is the 27. and so you have a few days left for lawmakers to make a deal. the president's should land at some point. there is a 5 hour time difference. they have to figure out something. it seems likely will go over the cliff. it has been looking like that before the holiday, but certainly now, particularly if you remember for congress broke for the christmas break, speaker raynor was not able to get the backup plan through his caucus, so there was no pressure on democrats to try to counter that immediately. senate democrats saying we passed a bill that raises tax rates on incomes over $250,000, we ran on this and this is what we are offering. house republicans were saying, no, we want to negotiate something, figure it out and send it to us. someone is going to have to move. the question is, who? the president met with senate majority leader harry reid before going to hawaii and his offer was to extend the tax cuts for incomes under $250,000, extend unemployment insurance benefits, and the lady across -- and then delay the across the board automati
they want to bill, the infrastructure, the programs they make into law. guest: i think james hits on the virtue of a flat tax, having a low, single rate, getting rid of all the loopholes in the tax code and having the government learn to live within its means. that would take some time, but it is eminently doable with positive reforms on the entitlement for younger people. you do not have to change the benefit formulas for those on medicare or social security or who are about to go on those systems. as younger people know, those systems are headed for a crash. the sooner we reform them in a positive way, the better. the key to do it is not by raising taxes, but by having a low single rate and they learn to live within it. i think you'll have a much more prosperous country for it. host: let's end where we started. what do you think the best solution in your personal view and your business view is to the fiscal cliff situation? guest: aside from not doing something foolish and the next three or four days -- that is why i do not mind kicking the can down the road -- would be to follo
in places like california and hawaii because of land use laws from the 1960's. second, if you look to the community reinvestment act, if you think that is the cause of the bubble, you have to explain why there was not a bubble in houston, raleigh, n.c., that winter? -- atlanta? it applied to those cities just as much as san francisco and miami, yet there were bubbles there and no balls in houston, omaha, -- bubbles in houston, ohio, -- global hawk, where have you. host: you conclude the book with "home ownership is not just an american dream, a dream of people all over the world. guest: that is absolutely right. a lot of research has shown that homeownership is one way to help people get out of poverty. if you want to start a small business, it turns out most are started with a loan on a business owner's home. if you want to put your kids through college, you can borrow against your home. homeownership is a way to build wealth. yet we have government saying we should get more people into apartments, fewer people into cinder the -- single-family homes. host: what is the track over l
Search Results 0 to 2 of about 3